Peloton Interactive (NASDAQ:PTON) Price Target Raised to $8.00

Peloton Interactive (NASDAQ:PTON) had its price objective boosted by Robert W. Baird from $4.75 to $8.00 in a report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on PTON. Morgan Stanley upped their price objective on Peloton Interactive from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Telsey Advisory Group increased their price target on Peloton Interactive from $5.00 to $9.00 and gave the stock a “market perform” rating in a report on Friday. Sanford C. Bernstein boosted their price objective on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a report on Friday, August 23rd. Macquarie reaffirmed a “neutral” rating and set a $2.53 target price on shares of Peloton Interactive in a research note on Thursday, August 22nd. Finally, Canaccord Genuity Group boosted their price target on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $7.25 on Friday. The business’s 50 day moving average price is $5.11 and its 200 day moving average price is $4.07. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92. Peloton Interactive has a one year low of $2.70 and a one year high of $8.92.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same period in the prior year, the company earned ($0.44) earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the sale, the chief executive officer now owns 149,240 shares of the company’s stock, valued at $865,592. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Elizabeth F. Coddington sold 36,819 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $4.74, for a total value of $174,522.06. Following the sale, the chief financial officer now owns 171,466 shares of the company’s stock, valued at $812,748.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the sale, the chief executive officer now directly owns 149,240 shares in the company, valued at approximately $865,592. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,880 shares of company stock worth $815,767. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Peloton Interactive by 4.0% in the first quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after buying an additional 1,215,397 shares during the last quarter. DNB Asset Management AS raised its position in shares of Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after acquiring an additional 3,611,069 shares in the last quarter. DME Capital Management LP purchased a new stake in Peloton Interactive during the second quarter worth approximately $22,947,000. Clearline Capital LP acquired a new position in Peloton Interactive in the second quarter valued at approximately $7,527,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Peloton Interactive in the first quarter valued at approximately $5,877,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.